Key Support and Resistance Levels
1. Main Supports
• $99,000: Confluence of daily MA50, OI LIQMAP cluster, and Auto AVWAP (~$100k).
• $93,000–$91,000: Potential deeper retracement if the correction extends (targets for a deeper wave C).
2. Secondary Supports
• Around $97,000–$98,000: Minor AVWAP and previous 2H/4H lows.
3. Resistances
• $105,000–$107,000: Identified OI LIQMAP zone for potential short squeezes, confluence with AVWAP High.
• $110,000+: Possible extension in case of a strong recovery.
Final Recommendations
1. General Trend
• Long timeframes (12H, 1D) and the MTFTI average indicate a bullish trend. The ongoing correction aligns with standard A-B-C waves or a “flat” scenario (potentially “running flat”).
• Key areas to monitor for a potential bottom: $99,000 and $91,000–$93,000.
2. Rebound Confirmation
• Monitor price action around $99,000:
• A confirmed pullback with RSI bullish divergence on 4H (BB/RSI_DIV) and Investor Satisfaction (ISPD) returning to 0.4–0.5 could signal a good buying opportunity.
• If a clear break occurs below $99,000, a test at $93,000–$91,000 could serve as a secondary entry point.
3. Upside Targets
• Short-term: Aim for a return to $105,000–$107,000, where significant seller clusters are concentrated.
• On breakout: Potential extension to $110,000+.
4. Risk Management
• In the very short term (2H/4H), further downside is possible; caution is advised when timing entries.
• Wait for structural confirmations (end of wave C, RSI divergence, etc.).
• Indicators (HPI, Koncorde) do not show significant selling pressure on higher timeframes, so panic is unnecessary.
1. Main Supports
• $99,000: Confluence of daily MA50, OI LIQMAP cluster, and Auto AVWAP (~$100k).
• $93,000–$91,000: Potential deeper retracement if the correction extends (targets for a deeper wave C).
2. Secondary Supports
• Around $97,000–$98,000: Minor AVWAP and previous 2H/4H lows.
3. Resistances
• $105,000–$107,000: Identified OI LIQMAP zone for potential short squeezes, confluence with AVWAP High.
• $110,000+: Possible extension in case of a strong recovery.
Final Recommendations
1. General Trend
• Long timeframes (12H, 1D) and the MTFTI average indicate a bullish trend. The ongoing correction aligns with standard A-B-C waves or a “flat” scenario (potentially “running flat”).
• Key areas to monitor for a potential bottom: $99,000 and $91,000–$93,000.
2. Rebound Confirmation
• Monitor price action around $99,000:
• A confirmed pullback with RSI bullish divergence on 4H (BB/RSI_DIV) and Investor Satisfaction (ISPD) returning to 0.4–0.5 could signal a good buying opportunity.
• If a clear break occurs below $99,000, a test at $93,000–$91,000 could serve as a secondary entry point.
3. Upside Targets
• Short-term: Aim for a return to $105,000–$107,000, where significant seller clusters are concentrated.
• On breakout: Potential extension to $110,000+.
4. Risk Management
• In the very short term (2H/4H), further downside is possible; caution is advised when timing entries.
• Wait for structural confirmations (end of wave C, RSI divergence, etc.).
• Indicators (HPI, Koncorde) do not show significant selling pressure on higher timeframes, so panic is unnecessary.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.